Discover 4 key steps for taking your business international—from assessing your readiness to selecting the right market and executing a successful entry strategy. Find out which questions you should be asking and which actions you should be taking.

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For more advice, go to bdc.ca/export
bdc.ca BDC@bdc_ca BDC
Select your markets
Concentrate resources on your most
promising markets
Questions
→→ Which markets are best
suited to your products
and company?
→→ What will be your
competitive advantage?
→→ How will you overcome
linguistic, cultural and
regulatory challenges?
→→ Can you find
suitable partners?
Actions
→→ Avoid making snap decisions
on markets based only
on trade show interest or
web sales
→→ Analyze different markets
objectively to find the best
match with your products
and internal capabilities
→→ Research multiple factors,
such as GDP growth,
competitive landscape,
business risks, etc.
1
Ready or not, global
competition is coming
2
Canada is a relatively
small market
3
Made-in-Canada brand
has strong international
appeal
4
Research shows exports
boost sales and profits
Assess your readiness
Don’t underestimate the challenges
Questions
→→ What will you bring to
a foreign market?
→→ Do you have the necessary
resources, people and
production capacity?
→→ What kind of partners will
you need?
→→ Do you have the financial
resources to see the
project through?
→→ Are you patient and
adaptable enough to build
trust with foreign partners?
→→ Where can you find help?
Actions
→→ Ensure you fully understand
the complexities and
risks of expanding into
foreign markets
→→ Evaluate your company’s
current performance based
on objective measures
→→ Identify your strengths and
capabilities to maximize your
expansion potential
Plan an entry strategy
Get to know your market inside out
Questions
→→ Is there a gap in the market
you can exploit?
→→ Do you need to customize
your product?
→→ What will be your
pricing strategy?
→→ Will you distribute through
local partners or form
a joint venture?
→→ What is your
strategy for meeting
regulatory requirements?
Actions
→→ Conduct primary research
by calling potential clients,
distributors, sales agents, etc.
→→ Investigate competitors’
strengths and weaknesses
→→ Analyze the market,
identifying areas of customer
dissatisfaction
→→ Determine the most
appropriate market
entry strategy based
on your findings
→→ Identify potential partners
Implement your plan
Build long-term relationships and be patient
Questions
→→ Why would a foreign partner
want to work with you?
→→ What questions will potential
partners ask you?
→→ Do you fully understand the
local culture?
→→ Do you need a translator?
→→ Who can accompany you to
the country and advise you
on your project?
→→ How will you manage your
project over the long term?
→→ Who will be in charge?
Actions
→→ Travel to the country to meet
potential partners
→→ Negotiate favourable terms
by showing your added value
→→ Follow up with regular trips
to the country
→→ Allocate resources for two
years to ensure you’re
well-rooted in the market
→→ Plan for the ongoing
management of your project
over the long term
Steps to international success
reasons
to go
international